Developer Acquisition


Address

1045 Bryant Street, San Francisco

Assignment

Representing the developer in the acquisition of a substantial brick and timber building located in an emerging area South of Market Street, SOMA.

Objective

Locate vacant buildings with the necessary characteristics for our developer to purchase and renovate, capitalizing on the growing demand for the area’s creative/technology spaces.

Challenges

  1. Recognizing the potential of an unimproved and functionally obsolete warehouse/retail building

  2. Proving tenant demand and rental rates for the emerging SOMA sub-market with the building in raw condition.

  3. Working with the developer to determine scope of work and redevelopment cost necessary to deliver market-ready space.

  4. Assisting the developer to educate the institutional capital partner on the value of the transaction.

  5. Overcoming many environmental issues during the process of due diligence.

Result

Touchstone Commercial Partners saw the potential of the property and provided the required information and documents for the developer to act quickly and purchase a “diamond in the ruff” property. Today, the developer is marketing a completely renovated, dynamic mixed-use building for lease.

For more information contact Zach Haupert and Michael Sanberg